Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you'd like to receive our Wednesday Word to the Wise in your inbox, subscribe here. Asset Retirement Obligations (ARO) only pertain to the operators of wells and facilities, right? Wrong! With the relatively high visibility of Licensee Liability Rating (LLR) and Liability Management Rating (LMR) regulatory [Read more]
Headlines
GuildOne Blockchain in Energy Announcement
On September 9th, GuildOne is proud to be hosting Blockchain in Energy to help kick off Alberta Blockchain Week, which is presented by the Alberta Blockchain Consortium (ABC). Blockchain in Energy will feature an afternoon of events to explore the vast potential of blockchain technologies to transform the energy industry. It will feature presentations by industry leaders covering topics such as: How blockchain is revolutionizing the Energy industry How cloud technologies power blockchain [Read more]
Federal Court of Appeal to rule on whether to let pipeline challenges proceed
The Federal Court of Appeal is to reveal today whether a new set of legal challenges to the Trans Mountain pipeline project can proceed. Ottawa has twice approved a plan to twin an existing pipeline from Alberta's oilpatch to the B.C. coast. Last year, the Federal Court of Appeal tore up the original approval, citing both an insufficient environment review and inadequate consultations with Indigenous communities. The Liberals say they fixed both problems and approved the expansion a [Read more]
Column: “I said, you’re SITTING on the BABY!” Apathetic export pipeline companies slash commodity prices/government royalties, compound abandoned well issues, and wipe out otherwise healthy producers
Life in the petroleum sector used to be exhilarating - earning a living in an incredibly dynamic business, providing the fuel that the world needs to maintain its standard of living, and working with energetic, motivated people. Today, producers no longer feel quite so enthused; in fact they feel like 60-year-old former NFL linemen trying to get out of bed. Watching the news is like seeing your face pop up on the nation’s most wanted list for some unspeakable act committed to a dying orphan’s [Read more]
Advantage Announces Significant Oil Discovery at Progress, Alberta
CALGARY, Sept. 3, 2019 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce a significant Montney light oil pool has been discovered and appraised at Progress, Alberta, on the Corporation's 47 net section block of 100% owned lands. This discovery elevates the Progress asset to be a primary element of the Corporation's near-term liquids development program. Advantage has drilled four successful Montney wells to date at Progress, with the most recent [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Sep. 1 May 2020 - Communications/Public Relations Student Opportunities TC Energy Calgary Sep. 1 May 2020 - Law Student Opportunities TC Energy Calgary Sep. [Read more]
Foreign share of oilsands production fell over past 4 years, analysis shows
When it comes to talking about how the northern Alberta oilsands have lost their lustre for foreign investors, Satoshi Abe sounds a lot like his Canadian counterparts. "I think Canada itself creates significant barriers to new investment," said the president of Japan Canada Oil Sands Ltd. or JACOS, reached at his Calgary office. "Additional investment in Canada will only become attractive once there is sufficient egress of its resources and more certainty around its regulatory processes, [Read more]
Chinese companies commit to oilsands despite setbacks and poor operating results
CALGARY - While some European and U.S. companies cut their exposure to the Canadian oilsands, China's Big Three oil giants — CNOOC, PetroChina and Sinopec — seem content to let their bets ride even if the results haven't been spectacular. In 2018, PetroChina produced an average of just 7,300 barrels per day of bitumen from its MacKay River thermal oilsands project, although it was designed to produce 35,000 bpd. In June, its output was about 8,700 bpd. The Beijing-based company [Read more]
U.S. natgas futures rise to 7-wk high on forecasts for more demand
U.S. natural gas futures rose over 3% to a seven-week high on Tuesday on forecasts for warmer weather and higher cooling demand next week than previously expected. Front-month gas futures for October delivery on the New York Mercantile Exchange (NYMEX) were up 7 cents, or 3.1%, to $2.355 per million British thermal units at 11:29 a.m. EDT (1529 GMT), their highest since July 16. That put the contract into overbought territory for the first time since November 2018 and cut the premium [Read more]
Venezuelan oil exports fall to lowest level in 2019 as U.S. sanctions bite -data
Venezuela's oil exports fell in August to their lowest level in 2019, internal reports and Refinitiv Eikon data showed, hurt by a halt in purchases by the nation's second largest customer, China National Petroleum Corp (CNPC), following tougher U.S. sanctions. Overall exports of crude and refined products by state-run oil company Petroleos de Venezuela (PDVSA) and its joint ventures declined last month to some 770,000 barrels per day (bpd) from 992,565 bpd in July and 1.13 million bpd in [Read more]